Everyone has heard of FSBOs (or Fizzbos or Fisbos – the spellings vary). A FSBO is a seller who is selling without a real estate agent. First, let me remark that the term “FSBO” is just plain stupid. All houses are for sale by owner, aren’t they? It isn’t the neighbor selling the house, it’s the owner! So it is a better description to say that the seller is selling without representation.
So what do we call a buyer who is buying without representation? Well, there really isn’t term for them, but some of us call them BUBBAs – Buyer Unrepresented By Buyer’s Agent.
How do you get to be a BUBBA? Visit a builder’s model home without your real estate agent in tow. Most builders will not pay your agent’s commission unless your agent goes with you on your first visit. You can still hire an agent to look out for your interests, but you’ll have to pay him or her out of your own pocket.
The same thing can happen if you go into an open house on a Sunday afternoon or if you call the listing agent directly to see a property.
So, if you don’t want to be a BUBBA, choose an agent before you start looking at houses.
It’s one thing to choose to be a BUBBA, but to end up one by accident is just a shame.
(C) 2006 Susan Pruden.